Saturday, March 18, 2006

China's Geely Plans $7,500 Sticker, 2008 Launch for U.S.

DETROIT — Geely, the Chinese automaker that turned heads with its display at the North American International Auto Show here in January, is inching closer to a U.S. market launch.

Chief operating officer John Harmer told the Society of Automotive Analysts that the company plans to enter the market in the fall of 2008 — or sooner.

The company is targeting a $7,500 sticker price for its first U.S. product and hopes to sell about 5,000 copies of what he calls a "very, very basic" small car that would nevertheless meet U.S. regulations for safety and emissions. The company turned over 12 cars for U.S. testing last July and Geely plans to start by selling cars in Puerto Rico as a test market for several months.



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